By Andy Sambidge
Dubai Land Department unveils 'The Perfect City' to bring all property-related businesses into one zone
The real estate unit of Dubai Government on Monday unveiled plans to build the world's first property-related city, along the same lines as Dubai Media City and Dubai Internet City.
Work on what is being dubbed The Perfect City, which will include a 500-metre canal, will begin in early 2015 and is expected to be completed by 2021.
The city will feature 75 percent green space and include 20,000 trees, which will contribute to reducing levels of carbon dioxide, a statement said
The city will be 100 percent sustainable and will bring together all real estate-related businesses into one zone, the statement added.
The Perfect City will include headquarters buildings for DLD, as well as its RERA regulatory arm, and will also feature a Real Estate Court, Real Estate University, Real Estate Museum, Sustainability Centre, Emirates Real Estate Solutions and the Real Estate World Centre, the latter of which will include global real estate companies, real estate development companies and real estate brokerage offices.
Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President, Prime Minister and ruler of Dubai, was briefed on the project by Sultan Butti Bin Mejren, director general, Dubai Land Department at the Cityscape Global exhibition which is taking place in the emirate this week.
A statement said the Perfect City initiative represents a "comprehensive system of sustainable real estate solutions".
"We decided to surprise visitors to this year's Cityscape with this unique initiative that showcases a quantum leap forward in the concept of sustainable real estate developments," said Bin Mejren.
"Our efforts derive inspiration from the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum... His leadership and ability to set out a path for the future motivates us to produce new projects that set the pace for Dubai's continued evolution as the world's foremost innovative property sector," he added.For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.